- What: Defence Minister Parrikar said the Ministry will “re-ascertain” the list of blacklisted firms based on the new policy
- The new policy is called ‘Guidelines of the Ministry of Defence for penalties in business dealings with entities’
- It was approved by the Defence Acquisition Council (DAC) on Nov 7 and was released by the Ministry on 21 Nov
- The new policy has reduced the period of blanket ban to 5 years from 10 years. However, the upper limit of the ban period has not been specified
- The policy makes a provision to do business with a blacklisted firm for support of critical spares and maintenance in view of national security
- But it requires the approval of the Defence Minister
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